VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2016) - Search Minerals Inc. (TSX VENTURE:SMY) ("Search" or the "Company") is pleased to announce that it has contracted with NAI Interactive Ltd ("NAI") of Vancouver, BC for marketing and consulting services in the Greater China and other Asia regions for an initial six-month term. Under the terms of the contract, these services will begin immediately and NAI will receive a monthly retainer of $5,000 per month. The contract may be extended for an additional six months following the initial six-month term.
Greg Andrews, President and Chief Executive Officer of the Company, states, "Search is pleased to be working with NAI to create investor awareness to Greater China and other Asia regions. NAI will also use its network to introduce Search to potential strategic and/or offtake partners. NAI and Pilot Communications will work closely together (see Search News Release dated August 31, 2016) as they jointly provide investor awareness to the diverse investment communities. I will be attending, along with Dr. David Dreisinger, a NAI hosted conference in Shenzhen, China this coming December."
Andrews further states, "Search is working diligently to complete the pilot plant testing of our proprietary Direct Extraction Metallurgical Process and our field work continues to add strength to the concept that Fox Harbour Volcanic belt, which includes our FOXTROT critical rare earth element resource, is indeed a District. Our business focus continues to be on leveraging these strengths to establish alliances with a strategic partner and an offtake partner that will enable Search to move forward with the first of what we hope will be many projects in this highly accessible region. The NAI conference provides an excellent opportunity to build market awareness and develop business relationships in Asia. Given the experience the Asia business community has with critical rare earth elements, we feel that this is a natural jurisdiction for finding knowledgeable alliance partners. With completion of our pilot plant project imminent, the timing is excellent for advancing previous and new discussions regarding separation options, funding and offtake opportunities."
NAI Interactive, established in 1998 with an office in Vancouver, and associate offices in Shanghai and Hong Kong, has a proven track record in connecting companies with China and Asia investors globally through its online and offline platforms. Through its NAI500 online platform, its e-mail blast service and its Global Chinese Financial Forum international conference series, NAI connects organizations seeking access to China and Asia investors, partners, and buyers, including high net worth individuals, private equity funds, family funds, private enterprises (publicly listed and privately owned), state owned enterprises and financial institutions.
NAI Interactive directly owns 900,000 common shares and 900,000 warrants of Search Minerals Inc.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Port Hope Simpson Critical Rare Earth Element (CREE) District of SE Labrador. The Company controls a belt 70 km long and 8 km wide including its 100% interest in the FOXTROT Project which is road accessible and at tidewater. Exploration efforts have advanced "Deepwater Fox" and "Fox Meadow" as significant new CREE prospects very similar and in close proximity to the FOXTROT discovery. While the Company has identified more than 20 other prospects in the District, its primary objective remains development of FOXTROT by confirming proprietary processing technology at the pilot plant level (in progress) and delineation of prospects that will ensure competitive-low cost production beyond the 14-year mine life contemplated in the preliminary economic assessment of FOXTROT completed in April 2016. The FOXTROT Project has a low capital cost to bring the initial project into production ($152 M), a short payback period, and is scalable due to Search's proprietary processing technology.
All material information on the Company may be found on its website at www.searchminerals.ca and on SEDAR at www.sedar.com
Identified as Neodymium (Nd), Europium (Eu), Terbium (Tb), Dysprosium (Dy) and Yttrium (Y) this valuable subset of the complete series of seventeen rare earth elements is considered critical due to high demand and/or constrained domestic supply. Containing unique properties which enhance the performance of a range of innovative technologies, CREE's are essential components in the development of permanent magnets and a variety of other components used in renewable energy, green technology automobiles, medical devices, electronics and agricultural production.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information.
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the use of proceeds of the Offering, the timing of the expected conclusion of the pilot plant and the effect that the pilot plant will have on the Company. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that the management of the Company may decide to use the proceeds of the Offering in a different way and the risk that the conclusion of the pilot plant is delayed. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, Search does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.